Restaurant Week Stats
MODERN RESTAURANT MAGAZINE – According to data pulled directly from software, analyzing CAKE customers that participated in Restaurant Week, restaurants saw a 23 percent increase in total revenue earned during Restaurant Week as opposed to the week after. Among a comparable group of restaurants, those who did not participate in Restaurant Week saw an average difference of just four percent in total revenue compared to the week following Restaurant Week in their area.
- Revenue from credit card payments was 25 percent higher during Restaurant Week, while revenue from cash payments only saw a 13 percent increase. There was a 21 percent increase in overall credit card transactions, while only a five-percent increase in cash transactions.
- The total number of transactions went up by 18 percent, compared to just a seven-percent difference in restaurants that did not participate.
- Servers gained too – on average, the total amount of tips received was 22 percent higher during Restaurant Week for participating restaurants, compared to four percent lower for non-participating restaurants.
- The average ticket price during Restaurant Week was $43.35, falling to $39.74 the week after.
Based in Silicon Valley, CAKE is a Sysco company formed through the combination and synergy of three technology start-ups that solved for various challenges in the restaurant industry.